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Jarislowsky, Fraser Ltd

SEC CIK
0001123778
Latest filing
Oct 21, 2025

Holdings in Q1 2023

Holdings as of Mar 31, 2023, filed Sep 27, 2024. Long positions only; changes compare share counts with Q4 2022.

Institution overview
Positions
198
−8 vs. Q4 2022
Portfolio value
$16.2B
+$938.6M (+6.1%) vs. Q4 2022
Filed
Sep 27, 2024
AmendedSEC
Holdings of Jarislowsky, Fraser Ltd in Q1 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
CNICanadian National Railway CoStock9,556,511$1.13B6.9%+70,386+0.7%AddedHistory
TRIThomson Reuters CorpCOM NEW5,472,372$711.0M4.4%−155,114−2.8%ReducedHistory
BNBROOKFIELD CorpCL A LTD VT SH21,170,729$688.8M4.2%+1,604,945+8.2%AddedHistory
BNSBank of Nova ScotiaCOM13,428,850$675.4M4.2%−346,410−2.5%ReducedHistory
OTEXOpen Text CorpCOM16,804,467$647.3M4.0%+173,152+1.0%AddedHistory
GIBCgi IncCL A6,706,286$645.4M4.0%−182,282−2.6%ReducedHistory
MSFTMicrosoft CorpStock1,947,252$563.3M3.5%−17,249−0.9%ReducedHistory
QSRRestaurant Brands International Inc.COM7,746,940$519.4M3.2%−185,321−2.3%ReducedHistory
STNStantec IncCOM8,603,988$502.3M3.1%−762,205−8.1%ReducedHistory
SHOPShopify Inc.Stock10,318,555$494.1M3.0%−1,541,340−13.0%ReducedHistory
TRPTC Energy CorpCOM12,387,569$481.2M3.0%+5,449,857+78.6%AddedHistory
FNVFranco Nevada CorpStock3,125,949$455.3M2.8%−60,303−1.9%ReducedHistory
GILGildan Activewear Inc.Stock13,182,717$437.4M2.7%−293,496−2.2%ReducedHistory
MFCManulife Financial CorpCOM23,376,295$428.4M2.6%−652,131−2.7%ReducedHistory
MGAMagna International IncCOM7,690,099$411.3M2.5%−158,797−2.0%ReducedHistory
DSGXDescartes Systems Group IncCOM4,685,998$377.7M2.3%−7,993−0.2%ReducedHistory
CAECae IncCOM14,111,076$318.6M2.0%−505,007−3.5%ReducedHistory
UNHUnitedHealth Group IncStock662,414$313.1M1.9%+6,138+0.9%AddedHistory
AMZNAmazon Com IncStock2,814,882$290.7M1.8%+38,462+1.4%AddedHistory
MAMastercard IncStock722,860$262.7M1.6%−25,909−3.5%ReducedHistory
ABTAbbott LaboratoriesStock2,258,191$228.7M1.4%−19,754−0.9%ReducedHistory
FISVFiserv IncStock2,017,811$228.1M1.4%−83,689−4.0%ReducedHistory
CIGIColliers International Group Inc.SUB VTG SHS2,093,112$220.6M1.4%−12,248−0.6%ReducedHistory
RYRoyal Bank of CanadaStock2,294,906$219.2M1.4%−27,292−1.2%ReducedHistory
BDXBecton Dickinson & CoStock858,688$212.6M1.3%+25,249+3.0%AddedHistory
PEPPepsiCo IncStock1,111,941$202.7M1.2%+30,962+2.9%AddedHistory
GOOGLAlphabet Inc.Stock1,893,063$196.4M1.2%−10,995−0.6%ReducedHistory
GOOGAlphabet Inc.Stock1,856,520$193.1M1.2%+64,758+3.6%AddedHistory
CPRTCopart IncCOM2,493,105$187.5M1.2%−64,519−2.5%ReducedHistory
IBKRInteractive Brokers Group, Inc.Stock2,132,919$176.1M1.1%−110,174−4.9%ReducedHistory
ORCLOracle CorpStock1,793,513$166.7M1.0%+30,856+1.8%AddedHistory
BSXBoston Scientific CorpStock3,251,345$162.7M1.0%−627,195−16.2%ReducedHistory
JPMJPMorgan Chase & CoStock1,168,767$152.3M0.9%−12,235−1.0%ReducedHistory
IQVIQVIA Holdings Inc.Stock724,092$144.0M0.9%−4,656−0.6%ReducedHistory
METAMeta Platforms, Inc.Stock668,340$141.6M0.9%−132,586−16.6%ReducedHistory
DEODiageo PLCSPON ADR NEW722,460$130.9M0.8%−5,549−0.8%ReducedHistory
GWREGuidewire Software, Inc.COM1,578,845$129.5M0.8%+36,746+2.4%AddedHistory
TDToronto Dominion BankStock2,040,434$122.0M0.8%−43,808−2.1%ReducedHistory
CBChubb LtdStock625,558$121.5M0.7%+15,774+2.6%AddedHistory
BKNGBooking Holdings Inc.Stock45,612$121.0M0.7%−2,827−5.8%ReducedHistory
ENBEnbridge IncStock2,953,186$112.4M0.7%−22,888−0.8%ReducedHistory
JNJJohnson & JohnsonStock706,607$109.5M0.7%−17,870−2.5%ReducedHistory
PGProcter & Gamble CoStock691,752$102.9M0.6%−17,666−2.5%ReducedHistory
AMEAmetek IncCOM688,306$100.0M0.6%+33,002+5.0%AddedHistory
DHRDanaher CorpStock396,048$99.8M0.6%+33,774+9.3%AddedHistory
HDBHDFC Bank LtdSPONSORED ADS1,468,013$97.9M0.6%−4,921−0.3%ReducedHistory
SHWSherwin Williams CoCOM428,845$96.4M0.6%−255−0.1%ReducedHistory
TJXTJX Companies IncStock1,144,542$89.7M0.6%−13,948−1.2%ReducedHistory
MDLZMondelez International, Inc.Stock1,242,161$86.6M0.5%+213,632+20.8%AddedHistory
BRK.BBerkshire Hathaway IncStock274,488$84.8M0.5%+3,426+1.3%AddedHistory
MNSTMonster Beverage CorpCOM1,343,933$72.6M0.4%−25,849−1.9%ReducedConverted for a 2-for-1 splitHistory
LCIILci IndustriesCOM628,655$69.1M0.4%+29,934+5.0%AddedHistory
VRSKVerisk Analytics, Inc.COM354,046$67.9M0.4%−189,652−34.9%ReducedHistory
OZKBank OZKCOM1,790,084$61.2M0.4%−204,142−10.2%ReducedHistory
Abcam PLC000380204ADS4,177,645$56.2M0.3%+81,295+2.0%Added–
CLColgate Palmolive CoStock723,856$54.4M0.3%−34,636−4.6%ReducedHistory
RELXRELX PLCSPONSORED ADR1,386,230$45.0M0.3%−4,153−0.3%ReducedHistory
AFGAmerican Financial Group IncCOM364,756$44.3M0.3%+22,968+6.7%AddedHistory
BERYBerry Global Group, Inc.COM725,975$42.8M0.3%+125,520+20.9%AddedHistory
Cyberark Software LtdM2682V108SHS255,434$37.8M0.2%−880−0.3%Reduced–
COSTCostco Wholesale CorpStock75,559$37.5M0.2%−3,506−4.4%ReducedHistory
TSMTaiwan Semiconductor Manufacturing Co LtdADR354,943$33.0M0.2%−7,508−2.1%ReducedHistory
XOMExxonMobil Holdings CorpCOM295,809$32.4M0.2%−1,640−0.6%ReducedHistory
AXAxos Financial, Inc.COM866,507$32.0M0.2%−23,980−2.7%ReducedHistory
ULUnilever PLCSPON ADR NEW594,757$30.9M0.2%+22,457+3.9%AddedHistory
NTRNutrien Ltd.COM407,470$30.1M0.2%−45,763−10.1%ReducedHistory
BMOBank of MontrealCOM315,909$28.1M0.2%+43,662+16.0%AddedHistory
ADPAutomatic Data Processing IncStock123,242$27.4M0.2%−4,742−3.7%ReducedHistory
PGRProgressive CorpStock177,201$25.4M0.2%−6,604−3.6%ReducedHistory
SAPSAP SEADR199,858$25.3M0.2%−6,382−3.1%ReducedHistory
CMCSAComcast CorpStock621,234$23.6M0.1%−72,587−10.5%ReducedHistory
ABBVAbbVie Inc.Stock146,385$23.3M0.1%−4,301−2.9%ReducedHistory
ALRMAlarm.com Holdings, Inc.COM438,949$22.1M0.1%−11,633−2.6%ReducedHistory
LLYEli Lilly & CoStock59,463$20.4M0.1%−1,494−2.5%ReducedHistory
ASMLASML Holding NVADR29,979$20.4M0.1%−86−0.3%ReducedHistory
ZTSZoetis Inc.Stock122,146$20.3M0.1%−1,352−1.1%ReducedHistory
TUTelus CorpCOM1,004,875$19.9M0.1%−16,533−1.6%ReducedHistory
PBAPembina Pipeline CorpCOM601,441$19.5M0.1%+71,186+13.4%AddedHistory
SPYSPDR S&P 500 ETF TrustETF46,601$19.1M0.1%−13,002−21.8%ReducedHistory
ALCAlcon IncStock254,637$18.0M0.1%−7,824−3.0%ReducedHistory
CACCCredit Acceptance CorpCOM39,309$17.1M0.1%+300+0.8%AddedHistory
SFBSServisFirst Bancshares, Inc.COM276,980$15.1M0.1%−7,791−2.7%ReducedHistory
CVXChevron CorpStock87,086$14.2M0.1%−2,048−2.3%ReducedHistory
PFEPfizer IncStock338,157$13.8M0.1%−65,916−16.3%ReducedHistory
SLFSun Life Financial IncCOM260,372$12.1M0.1%−2,522−1.0%ReducedHistory
NVONovo Nordisk A SADR69,631$11.1M0.1%−1,965−2.7%ReducedHistory
BCEBce IncCOM NEW243,136$10.9M0.1%+8,551+3.6%AddedHistory
AAPLApple Inc.Stock64,340$10.6M0.1%−2,672−4.0%ReducedHistory
MMM3M CoStock100,698$10.6M0.1%−8,775−8.0%ReducedHistory
NKENIKE, Inc.Stock79,116$9.70M0.1%−3,885−4.7%ReducedHistory
KMBKimberly Clark CorpStock70,770$9.50M0.1%−2,717−3.7%ReducedHistory
CVSCVS Health CorpStock119,684$8.89M0.1%−6,030−4.8%ReducedHistory
YUMCYum China Holdings, Inc.COM122,358$7.76M<0.1%−200.0%ReducedHistory
EMREmerson Electric CoStock87,225$7.60M<0.1%−9,395−9.7%ReducedHistory
NVSNovartis AGADR80,829$7.44M<0.1%−4,505−5.3%ReducedHistory
TCOMTrip.com Group LtdADS196,947$7.42M<0.1%−412−0.2%ReducedHistory
KOCoca Cola CoStock118,673$7.36M<0.1%+357+0.3%AddedHistory
FMXMexican Economic Development IncSPON ADR UNITS75,412$7.18M<0.1%−50−0.1%ReducedHistory
CTSHCognizant Technology Solutions CorpCL A110,639$6.74M<0.1%−471,590−81.0%ReducedHistory
Shaw Communications Inc82028K200CL B CONV219,319$6.55M<0.1%−1,046−0.5%Reduced–

Sold out since Q4 2022 (12)

Positions held at the end of Q4 2022 that are gone from this filing.

Positions of Jarislowsky, Fraser Ltd sold out since Q4 2022
SecurityClassShares in Q4 2022Value in Q4 2022% of portfolio in Q4 2022History
SAMBoston Beer Co IncCL A45,185$14.9M0.1%History
Vanguard Morningstar Total Stock Market ETF922908769ETF24,000$4.59M<0.1%–
iShares Core MSCI Emerging Markets ETF46434G103ETF27,798$1.30M<0.1%–
SBUXStarbucks CorpStock5,486$544.2K<0.1%History
State Street Consumer Staples Select Sector SPDR ETF81369Y308ETF5,000$372.8K<0.1%–
DVADavita Inc.COM3,990$297.9K<0.1%History
DFSDiscover Financial ServicesCOM3,000$293.5K<0.1%History
EMBCEmbecta Corp.Stock9,411$238.0K<0.1%History
CAHCardinal Health IncStock2,950$226.8K<0.1%History
WRBBerkley W R CorpCOM3,114$226.0K<0.1%History
iShares Tr464288638ISHS 5-10YR INVT–$211.3K<0.1%–
VTRSViatris IncStock15,907$177.0K<0.1%History